Edtech platform PW (PhysicsWallah) has raised $100 million from Westbridge and GSV Ventures. The transaction values the company at $1.1 billion — making it the 16th unicorn of the country this year. The jump in valuation comes at a time when most edtech firms are under pressure and laying off employees.
PW will use the funds for business expansion, branding, opening more PW learning centres, and for additional course offerings. PW has 6.9 million subscribers on YouTube. PW said its interactive and educational content in the form of lectures, videos and notes has helped over 10,000 students crack competitive exams like NEET and JEE in 2020 and 2021.
PW founder & CEO Alakh Pandey said the funds will help the company implement new initiatives to augment the learning journeys of students. “Our commitment remains ‘every dollar spent in PW is for the greater good of learners’,” he said.
Founded in 2020 by Pandey and Prateek Maheshwari, the platform prepares students for engineering and medical entrance examinations by providing them affordable guidance from distinguished teachers. PW specialises in giving comprehensive lectures and sessions on YouTube, the PW app, and the website for students aspiring for NEET and JEE mains.
The firm has 1,900 employees, including 500 teachers and nearly 100 tech experts. It also has 200 associate professors available to answer student queries and another 200 professionals to create exam questions and term papers.